US stocks open lower as expected, but some rebound in the NASDAQ

Dow trading down around 200 points

The major indices are trading lower after the weaker ADP report.  A snapshot a few minutes into the opening are currently showing:

• NASDAQ near unchanged at 14,007 56
  
• S&P -13.47 points or -0.31% at 4408. The S&P index closed at a record level yesterday
  
• Dow industrial average down 204 points or -0.58%
  

In the forex, the NZD remains the strongest of the majors after the much better than expected employment reports overnight has analysts looking for a tightening as soon as the August 18 RBNZ meeting.

The CAD and the USD are fighting for the weakest of the major currencies currently.  The loonie is weaker on the back of lower oil prices. The USD is lower on the back of the weaker ADP jobs data this morning.

In other markets:

• Spot gold is up $20.11 or 1.1% $1830.30.
• Spot silver is up $0.45 or 1.71% at $25.92
  
• WTI crude oil futures are down $1.67 or -2.39% at $68.53
  
• Bitcoin is off it's lows and trades at $39,000.

In the US debt market, yields are lower:

• 2 year 0.164%
  
• 5year 0.611%
  
• 10 year, 1.132%

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August 05, 2021 at 01:35AM

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